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Tata Motors posts quarterly loss and warns of inflationary costs

BENGALURU — Jaguar Land Rover (JLR) owner Tata Motors reported a quarterly loss on Monday that was bigger than expected and warned of rising inflationary costs. Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards the end of 2020. "Demand remains strong despite near term concerns ... the semiconductor supply situation is improving gradually whilst inflation worries persist," Tata Motors said in an exchange filing. The company expects chip shortages at JLR to continue through 2022 as suppliers gradually ramp up production, and is also engaging directly with chip manufacturers to secure supply longer-term supplies for the Range Rover maker, it said. Tata Motors' consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales. However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses. For the reported quarter, analysts had expected the Mumbai-based company to report a loss of 3.30 billion rupees, according to Refinitiv IBES data. Tata Motors' earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, a key measure of profitability, was 10.2% for the quarter, above estimates of 9.3%. Total revenue from operations for the quarter fell 4.5% to 722.29 billion rupees, below estimates of 775.93 billion rupees. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Jaguar Land Rover

Next Jaguar F-Type rumored to get BMW M-sourced 4.4-liter twin-turbo V8

Unless we're discussing the Porsche 911 or Chevrolet Corvette, trying to predict the future of any sports car out there would stump even Miss Cleo. Reportage takes a walking dead theme, as with the next-generation Audi R8. Or it delves a succession of intel from "reliable sources" on every possibility, each one wilder than and incompatible with the last. The newest turn in the rumor cycle for the next-gen Jaguar F-Type says Jaguar's coupe will be fitted with a BMW-sourced 4.4-liter twin-turbo V8. The gossip comes courtesy of Georg Kacher writing in Car magazine. It closes the loop Kacher opened in 2016 when, writing in Automobile, he said BMW was hammering out a deal to provide V8 engines for the top-end Jaguar and Land Rover products. The deal would put more money in BMW's pockets for an engine that's expensive to develop but doesn't sell in large numbers, while weaning Jaguar off the thunderous and thirsty Ford-sourced 5.0-liter supercharged V8. We haven't heard anything else about that deal in the meantime. Since Kacher says the next F-Type will come in 2020, it seems the coupe would be the first car in the JLR range to get BMW power — specifically, BMW M Power. The 4.4-liter V8 codenamed S63 by BMW, but supposedly codenamed Project Jennifer inside JLR, makes 560 hp in standard form, or 625 hp in the M division's Competition vehicles. The current F-Type R Coupe puts out 550 hp, the SVR Coupe puts out 575 hp. However, the cloud of F-Type rumors is wide and nebulous. The head of JLR North America said last year that every product launched after 2020 will have some form of electrification, and we haven't heard of any hybrid plans for the 4.4-liter S63 V8. The next BMW M3 is said to get some sort of hybridization, but that sedan uses an inline-six. When Road & Track spoke to Jaguar design head Ian Callum earlier this month at the Paris Motor Show, the mag asked about a hybrid F-Type. Callum said electrification "is not necessarily the plan," adding, "There's not a plan, to be honest with you." He said what he'd like to do is "a mid-engine-style electric car." When Auto Express reported on Callum's wish, the mag called the product "a hybrid mid-engine supercar" with " dreams of taking on the McLaren 570S and Audi R8," using a V6 engine and powertrain components from the I-Pace. As a pure electric or a hybrid vehicle, this could be a way to get a C-X75-inspired sports car on the road, but it's not an F-Type replacement in either soul or price.

Child cobalt miners: Automakers pledge ethical minerals sourcing for EVs

BERLIN - Leading carmakers including Volkswagen and Toyota pledged on Wednesday to uphold ethical and socially responsible standards in their purchases of minerals for an expected boom in electric vehicle production. Demand for minerals such as cobalt, graphite and lithium is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers step up their investments in electric models. To cover its plans for more than 80 new models by 2025, Volkswagen alone is looking for partners in China, Europe and North America to provide battery cells and related technology worth more than 50 billion euros ($59 billion). Talks with major cobalt producers, including Glencore, at VW's Wolfsburg headquarters last week ended without a deal. More than half of the world's cobalt comes from the Democratic Republic of Congo, a country racked by political instability and legal opacity, and where child labor is used in mines. On Wednesday, a group of 10 leading passenger-car and truck manufacturers announced an initiative to jointly identify and address ethical, environmental, human and labor rights issues in raw materials sourcing. The partnership dubbed "Drive Sustainability" consists of VW, Toyota Motor Europe, Ford, Daimler, BMW, Honda, Jaguar Land Rover, Volvo Cars and truckmakers Scania and Volvo. The alliance "will assess the risks posed by the top raw materials (such as mica, cobalt, rubber and leather) in the automotive sector," said Stefan Crets of the CSR Europe business network. "This will allow Drive Sustainability to identify the most impactful activities to pursue" to address issues within the supply chain.Reporting by Andreas Cremer.Related Video: Image Credit: Michael Robinson Chavez/The Washington Post via Getty Images Green BMW Ford Honda Jaguar Land Rover Mercedes-Benz Automakers Toyota Volkswagen Volvo Green Automakers Green Culture Electric Scania ethics mining